Skip to main content

About your Search

20121224
20130101
STATION
LANGUAGE
Search Results 0 to 25 of about 26 (some duplicates have been removed)
CNN
Dec 31, 2012 1:00am PST
there are some really good ways to find out how the fiscal cliff would hit you at home. what we've done, we've taken a couple generic examples. let's start off with this one right here. this is a married couple with one child in college. if this couple has an income around $39,000 tax bill goes up $2,700. look at that right there. that's a big chunk of money out of that income. if they're making about $84,000. they'll be paying another $3,000 in taxes. and if this couple has high income, more than $137,000 they're looking at another $8,000 in taxes. that's just one set of generic examples there. there are all sorts of things along the way you can look at. depends what the deducks would be. let's take a look at this one here. if you're looking at a single person with no children, all right? income of about $46,000 that person will pay about another $1,300 in taxes. if that person has high income, about $158,000. that person will pay about $5,700 more in taxes. how will it work out for you? this is what you do. you go to this website, you give it all the information you can come up with, and it
CNN
Dec 31, 2012 11:00am PST
so consumed by the fiscal cliff that it appears little was done to extend the 2010 payroll tax cuts, put in place by president obama two years ago in order to boost the economy. so what does it mean to your wallet? here is how much less you'll bring home if it expires. paychecks shrink $50 a month for those earning $30,000 a year. it shrinks $83 a month for those earning $50,000 a year. and $167 a month for those earning $100,000 a year. now, let's switch to the fiscal cliff. and what that is going to cost you. without a deal, you'll be paying lots more in tachxes. say you're single and working hard, you don't have kids, you earn $80,000 a year. if it does not go into effect, you'll pay an additional $3,000 more than what you already pay in taxes. the middle class families will get hit harder, two kids, both parents work. together you earn $80,000 a year. guess what, if there is no deal, you would owe $6,000 more in taxes next year. with so many variables, the question is how is wall street reacting? the stock market dipped every day last week. question is, what is next? alison kosi
CNN
Jan 1, 2013 8:00am PST
the partisan divide wasn't challenge enough, get ready because the fiscal cliff is far from a done deal. vice president joe biden and mitch mcconnell brokered a deal and, yes, it cleared the senate late last night. but no, the republican-controlled house of representatives hasn't voted on this yet. they are going to convene in about 30 minutes. house democratic caucus is meeting in less than an hour while the house gop leaders are meeting at 1:00 p.m. eastern time. both parties undoubtedly laying the groundwork for the fiscal cliff showdown that will unfold between its 435 house members. one of those members is democratic congressman from michigan. he's kind enough to join me. thank you for being with us today. first of all, if you could get me up to speed on the decision to make a decision v you heard anything about the possibility there might be a vote today with your members? >> i haven't heard directly. i think there will be. i think the vote last night in the senate set the stage. it was overwhelming. we're going to have a caucus democrats and republicans will discuss the bill. the
CNN
Dec 23, 2012 10:00pm PST
lawmakers sound gloomy about the chances for a compromise deal on the fiscal cliff. >> nine days to get a deal done. house speaker boehner is in ohio. president obama in hawaii. >>> today we say aloha to an american hero, the late senator daniel inouye was remembered with full military honors in hawaii. the 88-year-old senator lost his arm in world war ii, he represented hawaii in washington for more than 50 years. president obama and the first lady attended today's service. the president has said inouye was his earliest political inspiration. >>> many gun shop owners say sales have been booming. thousands of north texans visited local gun shows and stores this weekend where the most powerful weapons are costing more than ever. a gun dealer told our affiliate that an assault style weapon ran around $900. this week anywhere from 1500 to $2500 many in just a few minutes my conversation with a gun shop owner, several former police officers and a school safety expert who says the current call for bringing guns into schools for safety is in his words, borderline insane. >>> an estimated 87 million americans wi
CNN
Dec 29, 2012 2:00pm PST
plan b. to a vote. that would have avoided the fiscal cliff. but he wasn't able to bring that to a vote. that made investors lose confidence, and since then, nothing really concrete has happened with the fiscal cliff to convince investors that a deal can get done. so at this point, the market doesn't really want a band-aid or so-called framework deal. in fact, one trader told me that it would almost be better if we went over the cliff, because that would give the markets some certainty. they would at least know what to expect. that is, of course, instead of a band-aid measure, because the worry there is that it would just kick the can down the road. now, this is usually the time of year when we see what's known as a santa claus rally, when investors push up stocks an average of 1.5% in the last few days of the year. and that kind of rally has come to wall street over the past four years. the santa claus rally still has some time to make it, though, with the market wrapping up 2012 on monday with a full day of trading. now, the major averages are, though, on track to make some solid gains for the year. you look at 2012 heading into monday for the dow industrials, they're up 6%. the nasdaq is up more than 13%. and the s&p 500, that's up 1 1% for the
CNN
Dec 30, 2012 10:00pm PST
little more confident. but this is really important, this fiscal cliff is an important element in economic recovery, i hope we get it done. >> across the aisle. republican congressman, tom cole says a deal, any deal will be hard to get done. >> there's not enough revenue in this package to fix the fiscal problems for the country. we're going to be in hand to hand warfare beginning in january with the continuing resolution the debt ceiling to try to deal with spending issues. >> continued uncertainty about tax and spending policies in 2013 could result in another recession. frustration seems to be the operative word tonight. if no fiscal cliff deal is reached, most everyone's taxes will go up tuesday with deep spending cuts kicking in. earlier i spoke with a democratic and republican strategist. they seemed to echo the sentiment of the voters. >> this is like, when you at the beginning of the year and you're in school at the beginning of the year, you get assigned a big project and you leave it until the last night. when i used to do that, my parents used to punish me. if kids were behaving the way these congress people are, they wo
CNN
Dec 27, 2012 8:00am PST
, very pessimistic about getting anything done before we reach that fiscal cliff. listen to what he said. >> the speaker just has a few d days left to change his mind, but i have to be very honest, mr. president. i don't know time wise how it can happen now. >> let me kind of lay out the state of play. i'll try to keep it out as much as possible. this is something everybody is focused on. the ball is in the senate's court right now. so what senator reid, who you saw earlier, and the president, what they are trying to figure out is whether or not they can craft what the president called a scaled-back bill, which is what he campaigned on. raising taxes for everybody making more than $250,000 a year and adding a few other tax-related items in there. maybe spending but it's unclear. the question is whether or not they can put all that together in a way to get enough republican votes in order to pass the senate and then would have to have enough votes to pass the house as well. whether they can do that in the next few days is an open question. >> just procedurally too, that takes time. a
CNN
Dec 28, 2012 11:00am PST
sure hope that they are getting something done, the fiscal cliff meeting at the white house right now. what were the mechanics of rushing the deal through congress and getting it passed into law? what would that look like in four days? lisa desjardins joins us now. what will it look like? >> well, there is a couple of possibilities, don. one is that they take sort of the remnants of one of the bills that passed the house or the senate and they just change it. they add whatever is in this deal to it. they have a whole bunch of vehicles that are possible for that. one sticking point, because this deal would most likely deal with taxes, there is a rule in the constitution that is has been interpreted by most every side to determine it has to begin in the house, revenue measures begin in the house. they need a bill that starts in the house, okay, they have a lot to do that. then the trick is making sure they have the votes. i think if we see anything come out of tonight's meeting, anything substantial, that's what is going to happen this next day and a half. leaders on both sides have
CNN
Dec 30, 2012 4:00pm PST
this fiscal cliff, well, they become slimmer and slimmer and slimmer. >> except they better get something done. if they don't get something done, just about everybody will have a tax increase and see spending cut starting january 1st. what is preventing lawmakers from reaching a deal in representative jack kingston is a republican from georgia. he joins us now from d.c. congressman, good to see you. thank you for being with us. let's just discuss this for a minute. you know, taxes, whether taxes should go up or not is an interesting concept because some people are just religious about it, right? we talked to steven moore, grover norquist, pat toomey. some just think taxes should never go up on people. others think if you increase taxes it will hurt the economy. that may actually have some truth to it. but there's a tone deafness out there that has now superseded all of this, congressman, and it is -- we just heard mitch mcconnell, i don't know why people say things like this, but they make people wonder about legislators saying on the floor of the senate, i worked all day saturday to get this thin
CNN
Dec 25, 2012 6:00am PST
$74,500. if -- it will go down to about $45,000 if the fiscal cliff goes off and nothing is done to adjust it. individuals now getting $45,000 back in '82 when first enarngted which is a lot different than $45,000 today. so if individuals earning $45,000 today might be impacted by additional taxes by this amt if something's not done. and, again, this is just a way to try to -- the problem with the amt is it wasn't adjusted for inflation so as time went on and prices have gone up and people have made more money and inflation has gone into place, things have not adjusted for the what the amt is now currently so this is going to be a big piece and those in the finance world are looking at making sure that this thing doesn't come into play. come 2014, people will have a big surprise if they file their taxes and this amt is not adjusted. >> ryan, look into the future which is ten days. do you think a deal will be done? >> what we're going to have, we're going to have a short-term deal. bottom line is if these spending cuts are way too extensive. the medicare cuts, way too extensive to pu
CNN
Dec 25, 2012 8:00am PST
work done? tell us a little bit about the fiscal cliff here. we know the senate is going to come back on thursday. do we expect the presidt to come back to washington and deal with trying to avoid these tax increases and the spending cuts? >> it really does sound like he'll be coming back, suzanne. it is not official. the white house hasn't put out a schedule update. it seems to be more a matter of when he is coming back rather than if. the senate will reconvene thursday. all eyes there as senate majority leader harry reid tries to cobble together something that can get some republican support. we'll be waiting to see exactly when president obama is coming back but we understand that the senate even though it reconvenes on thursday may not, senate democrats may not roll out a bill until closer to the new year. also get some republican support and put pressure on the house to take it up. >> we'll be following that very closely. have a wonderful christmas and of course we'll talk with you a little bit later. if there are any developments on the fiscal cliff. stay with cnn for any moveme
CNN
Dec 30, 2012 2:00pm PST
little more confident. but this is really important. this fiscal cliff san important element in economic recovery. i hope we can get it done. >> i think everybody out there agrees that they hope you get this done, a lot of frustration out there as you can imagine, i'm sure you hear it as well. thank you. thank you for joining us. i appreciate it. back to you. >> dana bash, as always, appreciate that insight. >>> if the government does go over the fiscal cliff, you know what the rest of the world is going to feel it as well. we will tell you how and where, coming up. ♪ if loving you is wrong ♪ i don't wanna be right [ record scratch ] what?! it's not bad for you. it just tastes that way. [ female announcer ] honey nut cheerios cereal -- heart-healthy, whole grain oats. you can't go wrong loving it. >>> all day i we have been following developments on the fiscal cliff talks. right now, senate leaders at an impasse over tax hikes and they are running out of time n just two days, those massive tax hikes and spending cuts will kick n so, let's go now to jessica yellin in washington. jessica has been monitoring events at the white
CNN
Dec 26, 2012 9:00am PST
, your taxes go up $3,000. if nothing is done to avert the fiscal cliff. if you make $104,000, doing pretty well, you see your taxes go up $6200. if you make $400,000 a year, you see taxes go up over $9,000. that's overnight. the bush tax cuts sunset if we don't do anything to variety the fiscal cliff. this is something that the president and republicans agree on. they agree 98% of the americans shouldn't have taxes raised, but that 2% disagreement brings us to the edge of the fiscal cliff. >> the ceo of starbucks says, hey, you know what? let's write on our coffee cups "come together." do you think anybody will pay attention to that in washdz? >> you know what? anything and everything helps. just merely spreading the message america is watching and waiting for congress to act to find a way to reason together, that's an important act, and everyone doing their part can do, i say good on him. we need to send this message to washington and make sure it isn't settled. we'll go deeper into this tonight at 7:00 as well. this is urnlggent. the clock is ticking, suzanne. >>> many american fa
CNN
Dec 29, 2012 9:00am PST
looming fiscal cliff. >>> and at 70 years old he is out to do something few have ever done. he is doing it while battling cancer. this is $100,000. we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money? if your bank takes more money than a stranger, you need an ally. ally bank. your money needs an ally. [ tylenol bottle ] me too! and nasal co [ tissue box ] he said nasal congestion. yeah...i heard him. [ female announcer ] tylenol® cold multi-symptom nighttime relieves nasal congestion. nyquil® cold and flu doesn't. so, the 5.3-liter v8 silverado can tow up to 9,600 pounds? 315 horsepower. what's that in reindeer-power? [ laughs ] [ pencil scratches ] [ male announcer ] chevy's giving more. now through january 2nd, no monthly payments until spring for qualified buyers. get the silverado for 0% apr financing for 60 months plus $1,000 holiday bonus cash. plus trade up for an additional $1,000 trade-in allowance. and this is the nokia lumia 920 from at&t.
CNN
Dec 28, 2012 8:00am PST
children's motrin. be ready with children's motrin. >>> you may have heard of the fiscal cliff described as a self-inflicted wound, a manufactured crisis. that just means it didn't come out of the blue. the bottom line is this. whatever happens we have done it to ourselves. cnn's ali velshi shows us how we got here. >> now we have passed a bold package of tax relief for america's families and businesses. >> it starts more than a decade ago when president bush initiated a series of tax cuts for all americans. but it's a deal with with the devil. the cuts, which are politically expedient but costly to government, expire in ten year's time. >> both houses of congress have passed tax relief that will protect the middle class. >> when it came time for the cuts to expire, the u.s. was emerging from the worst recession since the great depression. so president obama agreed to extend the tax cuts for two more years in exchange for congress extending federal emergency unemployment benefits. those cuts are expensive. if they are extended by 2020, the bush era tax cuts will be responsible for more than half the total national debt. democrats insist that taxes go up for the wealthy but stay in place permanently for those earning less than $250,000 a yea
CNN
Dec 31, 2012 9:00am PST
agreement to keep us from falling off the fiscal cliff. jessica yellen at the white house with some details. what are you learning? >> reporter: hi, suzanne. first of all, there is an emerging deal here, but it is still not done. it is in progress. there's a sense of sort of optimism that this will come to closu closure. what we know about this deal right now is that it would allow for earners at the very top to let their tax rates go back to clinton levels. so that is what was set to happen in the new year anyway. it only hits the very top earners. then the next level of the deal, households that earn $450,000 are the ones impacted by this. individuals who earn $400,000 a year are the ones who would see it go to clinton levels. the deal -- the emerging deal would also include as i understand an extension of unemployment benefits and a compromise on the estate tax that would allow a slight increase or something of an increase from where we are now but not an absolute jump to where it would be beginning tomorrow. now, if there were no deal. the big sticking point as dana is reporting is on the sequester, and just to point out, one of the big reasons democrats would not want it to be a three-month extension is beca
CNN
Dec 24, 2012 6:00am PST
republicans for it. >> that's obviously jon talking about the fiscal cliff. but he also said yesterday that he thinks that the whole concept of putting any armed police officers at schools should be done at the local level, if at all. the big push at the nra is to make it a federal program and it should be funded by the federal government by congress. so it does not look like there's going to be a lot of support for that right now. i've been struck talking to republicans sources. republican sources at how turned off a lot of people were by wayne louisiana pair. more so with the tone and the way he delivered the message. i talked to one republican in congress who said that it seemed like it was a time war. he was very aggressive and he didn't seem to be sort of getting the sentiment of where we are now. >> so listening to lindsey graham saying there's not much we can do to stop someone who is not wired right and talking to the number of lawmakers that you have talked to, after the first of the year when dianne feinstein says she's going to introduce this bill, how likely is it to pass and how likely is anything to happen as far as gun control is concerned? >> there's no question that the
CNN
Dec 30, 2012 3:00pm PST
the fiscal cliff. let's go to jean sahati who is a senior writer for cnnmoney.com, and probably the person most immersed in the my knew that -- minutia of all of the stuff going on and so you have political headlines of stuff going on like tax rates and there are back channels and people have been discussing this for a long time, and what is your take? >> a long time. >> and first of all, real tax reform is a process to take two three years at best probably and that is not certainly going to happen tonight and not worked out, but what is the likelihood of a deal? what would it look like from a tax perspective? >> which one a tax reform deal or the fiscal cliff deal? >> no, the fiscal cliff deal, and what might they be arriving at in the next day or so? >> well, here is what we are hearing. i will believe none of it until i see it. >> right. >> the rates will go up for high income people, and we don't know how high income, president obama wants $250,000 as the threshold, but republicans are pushing for more than $400,000, but it is splitting hairs at a certain point and especially no
CNN
Dec 30, 2012 1:00pm PST
the day. today's only job is to come up with a deal that ainvestigators going over the fiscal cliff and anything other than that is absolute irresponsibility you congressional malpractice. >> any deal? in other words, say some sort of temporary fix or have to be that long-term overhaul? >> i don't think -- at this point, beggers can't be choosers. i don't think we are going to get a grand bargain. i don't think we are going to get a big deal with long-term stuff a lot of people object to that, they will call that kicking the can down the road, you know what martin, they are absolutely right. once again, we will kick the can down the road, but that's what happens, when you back yourself into a corner, we did this with the debt ceiling, we did this with the government shutdown, the way we do business now, we should get used to it, that's how things are done t is the 11th hour we need an 11th hour deal. 11th hour deals are never particularly good. everybody is going to give something up. i just hope they all prepare to give something up and get a deal. it is not going to be pretty. i w
CNN
Dec 26, 2012 6:00am PST
the fiscal cliff. 48% of those polled say a deal is not likely. that optimism is waning, though when the poll was done earlier this month, 59% said a deal was likely. >>> former braves great andruw jones is free on a $2,500 bond this morning after being arrested outside of atlanta. he was arrested on a battery charge. the gwinnett county detention center said there was a domestic dispute between he and his life. >>> the number of extremely obese preschoolers has dropped slightly over the last decade, according to the centerses for disease control and prevention. researchers called the decline modest but say it's encouraging. the cdc adds that part of the decrease could be attributed to awareness campaigns that encourage physical activity and healthy eating. >>> before heading back to d.c. to try to avoid heading off the fiscal cliff, president obama and the first lady kept up a christmas tradition. they visited marines at a base in hawaii thanking them for their service. mrs. obama and their daughters, by the way, won't cut short their vacation. they're staying in hawaii while dad flies home. >>> a trip to a
CNN
Jan 1, 2013 9:00am PST
move forward and avert the fiscal cliff, it would be tough for the markets. marks are telling us they think there's been a momentary judgment call, they've done the right thing and the markets think something's going to get done here. so a solution is priced into the market here. if you don't get a solution, it's going to be a problem. maybe not the first day but certainly a problem. i've talked to congressmen, you have, too, they have 2008 and t.a.r.p. fresh in their memory. remember when they didn't pass the bank bailout? >> sure. >> wall street said, that's not going to work and the stock market went down 700 points. they have that fresh in their memory. they don't want -- they don't want to do anything like that. so they're being very careful here, i think. >> christine, tell us about some of the things that were, at least on the senate side, tax goodies, things saved, some of the things that we didn't lose because of the agreement on the senate side. >> it's interesting, when you look at, for example, write-off for teachers for supplies they get for the classroom, the parent and college tuition kind of tax breaks especially for lower income
CNN
Dec 26, 2012 11:00am PST
york state are not wondering anymore. >>> and six days and counting until we hit the fiscal cliff. the president is cutting short his hawaiian vacation to go back to work. we'll look at whether a deal is likely to get done. >>> and not what people in alabama wanted for christmas. tornadoes ripped through the south. >> i prayed to god as loud as i could and i was just praying for my safety. and i knew that -- i prayed that the church stayed put. rsal] ♪ everybody well don't you know it's me now? ♪ ♪ yeah who's it, who's it huh? ♪ ♪ willy's back with a brand new beat now, ♪ ♪ yeah doin' it doin' it up! ♪ heyyy yeah, tryin' to bite my style! ♪ ♪ heyyy yeah, how you like me now? ♪ ♪ na na na na na na na na ♪ and everybody go uh! >>> we told you last hour president obama is spending his last few hours in hawaii before returng early to washington. he's expected to arrive tomorrow, just five days ahead of the fiscal cliff, which includes an across the board tax hike that congress has tried but failed to undo. cnn's dana bash is with us from washington, our senior congressional correspondent. we spoke last hour. you told us that hour speaker john boehner was to convene this conference call to d
CNN
Jan 1, 2013 11:00am PST
to get this under way. very good year in stocks last year. the s&p up 13%. despite the fiscal cliff worries. and you got to see it get handled. if you saw the house not pass this, or you all of a sudden saw some controversy with amendments in the like and two competing versions of this bill and this drags on, i think you could see the stock market take a tumble and that's something members of congress have told us, they like to avoid that. they rep t.a.r.p. and the bank bailout and the stock market didn't like it when they didn't pass the bank bailout in first place, that's a fresh memory for them. >> christine romans, thank you for keeping an eye on all of this. so much to keep an eye on, thanks. >>> as we wait for republicans to speak, the vice president playing a huge role in getting this deal done. but does joe biden have the pull to actually get it through the house. >>> plus, i'll speak live with the attorney for one of the very first pot clubs in colorado. just opened after voters approved a new marijuana law. you can do two things at the same time. you can watch videos and t
Search Results 0 to 25 of about 26 (some duplicates have been removed)